The topic for my address is Sharemarket Floats - Issues for Expert Valuers. I've decided to focus on three areas where current practice in the preparation of prospectus valuation reports for resource companies might be improved. My central theme is that the valuer for a float should augment the usual assessments of the value of the company or its assets, with some input on the way the share market might value the company's shares when they are listed. I will then look at the valuer's role in relation to vendor consideration, last I will look at his role in providing investors with some input on the risk dimensions of the new company.